Yes Bank Faces GST Penalty of Rs 3.02 Crore Following Order from Uttar Pradesh Department
Yes Bank Limited has received an Order-in-Appeal pertaining to a Goods and Services Tax (GST) matter concerning Financial Year 2021-22 from the Goods and Services Tax department in Uttar Pradesh. The order confirms a penalty amounting to Rs 3,02,31,095/- in addition to the tax demand and applicable interest under Section 73 of the Central Goods and Services Tax Act, 2017 (CGST Act).The Order was passed by an Additional Commissioner (Appeals) on June 20, 2026. This action followed a prior intimation to the stock exchanges regarding an earlier Order-in-Original from the Joint Commissioner, which had levied a penalty of Rs 3,30,55,942/-.
The current order reflects a reduction in the penalty demand, as a part of the initial demand was dropped in favor of the Bank following the appeal process.
Details regarding the adverse ruling and the GST matter are summarized below:
| Detail | Information |
|---|---|
| Authority | Uttar Pradesh GST department |
| Date of Order Receipt | June 20, 2026 |
| Nature of Action | Order under Section 107(11) of the CGST Act |
| Allegation/Violation | Demand of tax on a GST matter along with levy of penalty and applicable interest |
| Penalty Amount | Rs 3,02,31,095/- |
The Bank stated that it has adequate factual and legal grounds to support its position regarding the matter. Although the bank does not currently anticipate any material impact on its financial or operational activities due to the said Order, Yes Bank confirmed that it will pursue necessary legal remedies against the determination.
Yes Bank Limited is set to take appropriate steps to contest this order through appeal within the prescribed timelines.
YESBANK Stock Price Movement
On Friday, shares of Yes Bank Limited shed value by 0.24% to settle at ₹25.41, narrowing the gap from the previous day's close. The stock closed after trading within a range and remains keenly measured against its prior 52-week high of ₹25.78.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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